Deep Gap, NC—28618
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Deep Gap, NC
As of Oct '25, the median home price in Deep Gap, NC is $388,000, with a year-over-year change of -2.1%. This indicates that home prices in Deep Gap, NC are decreasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $388,000 | -2.1% |
| Single Family | $388,000 | -2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $325,000 | -4.4% |
3 Bed | $416,000 | -1.9% |
4 Bed | $520,000 | -1.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Deep Gap, NC
As of July '25, Rentcast reports the average rent in Deep Gap, NC is $4,300, with a year-over-year rent change of 196.6%. Detailed rent data by bedroom size is not available for Deep Gap, NC. The most common rental property sizes in Deep Gap, NC are 2-bedroom and 3-bedroom, accounting for 41.7% and 32.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,300 | $4,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Deep Gap, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Deep Gap, NC is 86. This is a decrease of -26.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $517,000 | 3.0% |
Listing Count | 23 | 77.0% |
| Listings as % of Homes | 0.4% | 77.0% |
Days on Market | 86 | -26.0% |
Demographics — Deep Gap, NC
As of the latest ACS Survey released in 2023, Deep Gap, NC has a population of 2,240, which has decreased by -13.2% over the past 5 years. Deep Gap, NC is a moderately popular place for families, as children make up 23.6% of the population. The area has a moderately educated workforce, with 33.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,240 | -13.2% |
% Under 18 | 23.6% | 40.5% |
% Seniors | 15.2% | -5.6% |
% WFH | 5.8% | -13.4% |
% w/ College Degree | 33.3% | -9.5% |
As of the latest ACS Survey released in 2023, Deep Gap, NC is a predominantly white area, with 91.5% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Deep Gap, NC is hispanic, making up 7.3% of the population. Foreign-born residents account for 1.1% of the population in Deep Gap, NC, and this percentage has decreased by 26.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.5% | -3.8% |
% Black | 0.9% | 200.0% |
% Hispanic | 7.3% | 204.2% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 1.1% | -26.7% |
Mortgage and Risk — Deep Gap, NC
According to HUD data as of 2023, there were 97 mortgage originations in Deep Gap, NC, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Deep Gap, NC. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 97 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 6.0% |
% Second Loans | 40.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Deep Gap, NC
Deep Gap, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 4 |
Total Units Section 8 | 4 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $960 |
| 2 Bedroom | N/A | N/A | $1,220 |
| 3 Bedroom | N/A | N/A | $1,490 |
| 4 Bedroom | N/A | N/A | $2,050 |
Affordability — Deep Gap, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.5 |
| Median Home Price | $388,000 |
| Median Household Income | $62,700 |